Klaipėdos Nafta, which is controlled by the government, during the first quarter has been improving their results of the previous year as opposed to the second quarter, when Orlen Lietuva had been under repair and the company earned less than during the previous year.
According to the financial report announced by the Nasdaq OMX Vilnius exchange, the unaudited profit of Klaipėdos Nafta during the first six months of 2012 was up to 21.5 mln Lt, which is 23 percent less in comparison to the same period during 2011 (although 45 percent profit growth was announced for the first quarter of 2012), vz.lt reported on 31 August.
Also, while in the beginning of the year the selling income that was growing by 13 percent decreased by 15 percent to mln 68,1 Lt during the first half of year.
According to the company, the reduction of profit and sales was affected by the construction and repair works being carried out at Orlen Lietuva, as well as the results of 2011 were influenced by one-off dark oil product findings collected in the cleaning facilities.
The main activity of Klaipėdos Nafta is the reloading of oil products among other related services.
The main stock of shares (72.32percent) of Klaipėdos Nafta belongs to the government, which is represented by the Ministry of Energy. 10.24 percent of the portfolio is controlled by Achemos Group concern.
Verslo Žinios wrote that last year, Klaipėdos Nafta has reached their record in the company’s history by reaching the profit of 45,7 mln. Lt. However, in 2010 the profit reached only 26,1 mln Lt or in other words 75 percent less than what they gained in 2011.